Looks like a nice piece! Wartime .303s have definitely been going up in price over the last several years, so I think you did well for the $450! I don't know specifically for one that is a convert to No. 4 Mk I/3, but in general the .303s are getting pricey. I saw one last month that I considered to be only "good" condition, with a poorly refinished stock, for more than you paid for yours. Plus, Lend Lease rifles have a niche collector's appeal for many that only seems to be growing in recent years, so I would think that would be a "plus" in favor of your purchase.
On a side note, I can't say for sure about your statement on green, yellow, and red paint all-around on rifles. I know during WWII some of the older worn-out British rifles that were used for only Drill Purposes (DPs) were marked with red and white stripes on the stock and usually had "DP" painted somewhere. Yes, those were so that they knew not to put live ammo in them. However, I know red paint on some rifles does not mean it needs to be scrapped. For the US M1 Garands and M1917s that were Lend Lease rifles loaned to the UK, the British painted a 2-inch thick red band around the stock (usually toward the muzzle). This was to warn the user that the ammo for that weapon was not the standard British .303, but of some other caliber. Usually the caliber number was stenciled in black paint on top of the red-painted band so the soldier knew what ammo to use.
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by Rescue190
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